Charles Kirk, author of the popular Kirk Report, points out that Indian Internet stock Rediff.com (ticker: REDF) is on a run. Rediff.com, an Indian portal, was founded in 1996 and taken public in 2000 by Goldman Sachs and CSFB. Mr Kirk writes:
Not subscribed to this blog? You can get updated headlines for free by adding any of the Seeking Alpha Network Blogs to your My Yahoo page. Just log into your My Yahoo page, then go to this blog and click on the "+ My Yahoo" button on the top right of your screen.
The momentum traders have been all over Rediff.com (REDF) lately and for good reason, it is one of the few out there with any real mojo. While I'm sure the heavy short-interest in this one is adding fuel to the fire, the company does have an interesting story (i.e. India + Internet = Profits). A cup-like formation is underway.